ChampionX Announces Second Quarter 2021 Earnings Release and Conference Call Schedule

THE WOODLANDS, Texas, June 24, 2021 (GLOBE NEWSWIRE) — ChampionX Corporation (“ChampionX” or the “Company”) (NASDAQ: CHX) announced today that it will release its second quarter 2021 operating results on Wednesday, July 28, 2021, after the market closes. The Company has scheduled a conference call for Thursday, July 29, 2021, at 8:00 a.m. Central Time (9:00 a.m. Eastern Time) to discuss the results.

The call will be available by live webcast on ChampionX’s website at https://investors.championx.com or by dialing in as follows:

US and Canada: 1-888-424-8151
International: 1-847-585-4422
Reference: ChampionX conference call number 8113563

Please register for the webcast or dial into the call approximately 15 minutes prior to the scheduled start time.

A replay of the conference call will be available for approximately 30 days on ChampionX’s website or at ChampionXSecondQuarter2021CallReplay. Enter passcode 50190035.

About ChampionX

ChampionX is a global leader in chemistry solutions and highly engineered equipment and technologies that help companies drill for and produce oil and gas safely and efficiently around the world. ChampionX’s products provide efficient functioning throughout the lifecycle of a well with a focus on the production phase of wells. To learn more about ChampionX, visit our website at www.championX.com.

Investor Contact:
Byron Pope – [email protected] – 281-602-0094

Media Contact:
John Breed – [email protected] – 281-403-3751



Zealand Pharma Announces U.S. Commercial Availability of ZEGALOGUE® (dasiglucagon) injection

C
ompany
a
nnouncement – No. 41
/ 202
1

Zealand Pharma
Announces U.S. Commercial Availability
of
ZEGALOGUE
® (dasiglucagon)
i
njection

  • Z
    EGALOGUE
    now
    available in both an auto

    injector and prefilled syringe for the treatment of severe hypoglycemia in patients with diabetes age
    d
    6
    years and
    older

  • Zealand Pharma
    introduces
    ConnectedCare

    TM

    patient support program
    to facilitate access
    with educational and affordability resources
    for
    people with diabetes and their caregivers

Copenhagen, DK and Boston
,
MA, U.S.
June
24
, 202
1
Zealand Pharma A/S (Nasdaq: ZEAL) (CVR-no. 20045078) a biotechnology company focused on the discovery, development and commercialization of innovative peptide-based medicines, today announced that ZEGALOGUE® (dasiglucagon) injection 0.6mg/0.6mL is now commercially available in the U.S. in both an auto-injector and prefilled syringe.

“We are thrilled to announce that ZEGALOGUE is now available to support people with diabetes and their caregivers,” said Frank Sanders, President of U.S. Operations for Zealand Pharma. “One of the most frightening aspects of living with type 1 diabetes is the ever-present worry that an unexpected severe hypoglycemic event could occur at any time. This can be especially worrisome for people who are preparing for travel, the back to school season with a resumption of in-person learning, and other events away from home after a long period of isolation during the pandemic. The commercial availability of ZEGALOGUE brings us one step closer to helping people feel confident and prepared to address the unpredictable nature of severe hypoglycemia.”

“Each minute that passes during a severe hypoglycemic incident increases the risk of additional, and more serious, consequences, which underscores the need for treatments that work quickly and consistently,” said Stuart Weinzimer, MD, a Professor of Pediatric Endocrinology at the Yale School of Medicine. “Rescue therapies are under-prescribed for people with diabetes. It is critical for patients and families to discuss hypoglycemia and available rescue therapies with their clinicians, particularly as students with diabetes return to school. Similar to how other emergency treatments for food allergies are widely available and prescribed, we anticipate that the availability of new products like ZEGALOGUE will increase the awareness and importance of having rescue therapies offered to patients at risk of having very low blood sugar.”  

Zealand is committed to making a positive difference in the lives of patients with diabetes and ensuring that ZEGALOGUE is available to as many people at risk for severe hypoglycemia as possible. 

“We are proud to introduce Zealand Pharma ConnectedCare, a comprehensive patient support program designed to offer affordability resources, reimbursement and educational support to help address the diverse needs of patients and caregivers,” said Mr. Sanders. 

The program includes co-pay support for eligible commercially insured patients who may pay as little as $25 for up to two ZEGALOGUE devices per fill, and the opportunity to receive home prescription delivery.  Information on Zealand Pharma ConnectedCare is available at www.zegalogue.com.

The U.S. Food and Drug Administration (FDA) approved ZEGALOGUE on March 22, 2021 for the treatment of severe hypoglycemia in pediatric and adult patients with diabetes aged 6 years and above.

Severe hypoglycemia is an acute, life-threatening condition resulting from a critical drop in blood glucose levels associated primarily with insulin therapy and is one of the most feared complications of diabetes treatment1. Children with diabetes on insulin are particularly affected, with 7 out 100 children up to the age of 18 reporting severe hypoglycemia in the previous 6 months2. While patients have the ability to monitor and adjust their blood glucose levels to remain in proper glycemic control, it’s not always possible to prevent a severe hypoglycemic event.

INDICATION

ZEGALOGUE (dasiglucagon) injection is indicated for the treatment of severe hypoglycemia in pediatric and adult patients with diabetes aged 6 years and above.

IMPORTANT SAFETY INFORMATION

Contraindications

ZEGALOGUE is contraindicated in patients with pheochromocytoma because of the risk of substantial increase in blood pressure and in patients with insulinoma because of the risk of hypoglycemia.

Warnings and Precautions

ZEGALOGUE is contraindicated in patients with pheochromocytoma because glucagon products may stimulate the release of catecholamines from the tumor. If the patient develops a substantial increase in blood pressure and a previously undiagnosed pheochromocytoma is suspected, 5 to 10 mg of phentolamine mesylate, administered intravenously, has been shown to be effective in lowering blood pressure.

In patients with insulinoma, administration of glucagon products may produce an initial increase in blood glucose; however, ZEGALOGUE administration may directly or indirectly (through an initial rise in blood glucose) stimulate exaggerated insulin release from an insulinoma and cause hypoglycemia. ZEGALOGUE is contraindicated in patients with insulinoma. If a patient develops symptoms of hypoglycemia after a dose of ZEGALOGUE, give glucose orally or intravenously.

Allergic reactions have been reported with glucagon products; these include generalized rash, and in some cases anaphylactic shock with breathing difficulties and hypotension. Advise patients to seek immediate medical attention if they experience any symptoms of serious hypersensitivity reactions.

ZEGALOGUE is effective in treating hypoglycemia only if sufficient hepatic glycogen is present. Patients in states of starvation, with adrenal insufficiency or chronic hypoglycemia may not have adequate levels of hepatic glycogen for ZEGALOGUE administration to be effective. Patients with these conditions should be treated with glucose.

Adverse Reactions

The most common adverse reactions (≥2%) associated with ZEGALOGUE in adults were nausea, vomiting, headache, diarrhea and injection site pain; in pediatrics: nausea, vomiting, headache and injection site pain.

Drug Interactions

Patients taking beta-blockers may have a transient increase in pulse and blood pressure when given ZEGALOGUE. In patients taking indomethacin, ZEGALOGUE may lose its ability to raise blood glucose or may produce hypoglycemia. ZEGALOGUE may increase the anticoagulant effect of warfarin.

Please click

here

to see the full Prescribing Information for Zegalogue.

1 Strandberg RB, et al. Diabetes Res Clin Pract. 2017:11-19.

2 Saydah S et al. Endocrinol Diab Metab. 2019;2:e00057

# # #

About Zealand Pharma A/S

Zealand Pharma A/S (Nasdaq: ZEAL) (“Zealand”) is a biotechnology company focused on the discovery, development, and commercialization of peptide-based medicines. More than 10 drug candidates invented by Zealand have advanced into clinical development, of which two have reached the market. Zealand’s robust pipeline of investigational medicines includes three candidates in late-stage development. Zealand markets V-Go®, a basal-bolus insulin delivery option for people with diabetes, and has received FDA approval for Zegalogue, (dasiglucagon), the first and only glucagon analogue for the treatment severe hypoglycemia in pediatric and adult patients with diabetes aged 6 and above. License collaborations with Boehringer Ingelheim and Alexion Pharmaceuticals create opportunity for more patients to potentially benefit from Zealand-invented peptide investigational agents currently in development.

Zealand was founded in 1998 in Copenhagen, Denmark, and has presence throughout the U.S. that includes key locations in Boston, and Marlborough (MA). For more information about Zealand’s business and activities, please visit http://www.zealandpharma.com.

ZEGALOGUE ® is a registered trademark of Zealand Pharma A/S.

Forward-Looking Statement

This press release contains “forward-looking statements”, as that terms is defined in the Private Securities Litigation Reform Act of 1995, as amended, that provide Zealand Pharma’s expectations or forecasts of future events regarding the research, development and commercialization of pharmaceutical products. These forward-looking statements may be identified by words such as “aim,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “plan,” “possible,” “potential,” “will,” “would” and other words and terms of similar meaning. You should not place undue reliance on these statements, or the scientific data presented. The reader is cautioned not to rely on these forward-looking statements. Such forward-looking statements are subject to risks, uncertainties and inaccurate assumptions, which may cause actual results to differ materially from expectations set forth herein and may cause any or all of such forward-looking statements to be incorrect, and which include, but are not limited to, the occurrence of adverse safety events; risks of unexpected costs or delays; unexpected concerns that may arise from additional data, analysis or results obtained during clinical trials; failure to protect and enforce our data, intellectual property and other proprietary rights and uncertainties relating to intellectual property claims and challenges; regulatory authorities may require additional information or further studies, or may fail to approve or may delay approval of our drug candidates or expansion of product labeling; failure to obtain regulatory approvals in other jurisdictions; product liability claims; and the direct and indirect impacts of the ongoing COVID-19 pandemic on our business, results of operations and financial condition. If any or all of such forward-looking statements prove to be incorrect, our actual results could differ materially and adversely from those anticipated or implied by such statements. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. All such forward-looking statements speak only as of the date of this press release and are based on information available to Zealand Pharma as of the date of this release. We do not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. Information concerning pharmaceuticals (including compounds under development) contained within this material is not intended as advertising or medical advice.

For further information, please contact:

Investor Relations
Claudia Styslinger
Argot Partners
[email protected] 

 

Media Relations
Ashley Paskalis
Syneos Health
[email protected] 



STMicroelectronics Cooperates with Arrival to Provide Leading-Edge Technologies for Next-Generation Electric Vehicles

STMicroelectronics
Cooperates with Arrival to Provide
Leading-Edge
Technolog
ies
for Next-Generation Electric Vehicles

  • Arrival’s entire vehicle portfolio, including its Van, Bus, and recently announced Car, will feature ST’s
    technologies
  • Collaboration includes products dedicated to processing, power and battery
    management


Geneva, Switzerland; and
London, UK

June 24
, 2021 — STMicroelectronics (“ST”) (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, announced its collaboration with Arrival (NASDAQ: ARVL), the global technology company creating electric vehicles (EVs) using its unique technologies, to provide leading-edge semiconductor technologies and products for Arrival’s vehicles including automotive microcontrollers and power and battery-management devices.

Arrival has chosen ST as one of its key partners in bringing its connected EVs to market. ST’s technology will provide Arrival’s customers with future-proofed zero-emission commercial vehicles as part of an integrated mobility ecosystem. Arrival has selected ST’s high-performance, secure automotive microcontrollers for their modular ECU platform, as well as other ST technologies including smart-power and battery-management devices for efficient vehicle electrification.

Arrival believes its vehicles represent the next generation of EVs having been developed from the ground up using a radical new method of design and production. This vertically integrated approach using in-house developed hardware, software and robotics enables production in decentralised Microfactories. These Microfactories can be deployed around the world to service demand and supercharge local communities by hiring local talent, utilising local supply chains, and paying local taxes.

Arrival’s entire vehicle portfolio, including its Van, Bus, and recently announced Car, which is being designed in partnership with Uber for ride-hailing, will feature ST’s technologies. Arrival has already secured a commitment to purchase from UPS for up to 10,000 electric vehicles, with the option for 10,000 more, and will see trials of its vehicles starting later this year.

“We have been working with Arrival since their early stages, and we are proud of the journey accomplished together as they head towards production,” said Michael Anfang, Executive Vice President, Sales & Marketing, Europe, Middle East and Africa Region at STMicroelectronics. “ST is a broad-based technology supplier for the mobility industry’s transition to electrified and digitalized platforms. This collaboration with a leading new entrant on the market is a testament to our ability to support various operating models. Arrival’s vehicles using ST technology will be an additional step towards our shared vision of cleaner mobility.  

“STMicroelectronics are producing some of the best technology on the market today. At Arrival, choosing the most advanced technologies for our vehicles is crucial to extending the life of our products, improving their value whilst making them even more sustainable by extending their usable life,” said Sergey Malygin, EVP of Technology at Arrival.

About STMicroelectronics

At ST, we are 46,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An independent device manufacturer, we work with more than 100,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of the Internet of Things and 5G technology. Further information can be found at www.st.com.

About Arrival

Arrival (NASDAQ: ARVL) is reinventing the automotive industry with its entirely new approach to the design and assembly of electric vehicles. Low CapEx, rapidly scalable Microfactories combined with proprietary in-house developed components, materials and software, enable the production of best in class vehicles competitively priced to fossil fuel variants and with a substantially lower total cost of ownership. This transformative approach provides cities globally with the solutions they need to create sustainable urban environments and exceptional experiences for their citizens. Arrival is a global business founded in 2015 and headquartered in London, UK and Charlotte, North Carolina, USA, with more than 1,900 global employees located in offices across the United States, Germany, the Netherlands, Israel, Russia, and Luxembourg. The company is deploying its first four microfactories in North Carolina, USA, South Carolina, USA, Bicester, UK and Madrid, Spain.

Forward Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the products offered by Arrival and the markets in which it operates, Arrival’s ability to produce electric commercial vehicles, expectations regarding the benefits of the collaboration between Arrival and ST and expectations regarding the benefits of Arrival’s Microfactories. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management’s belief or interpretation of information currently available. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including, but not limited to: (i) the impact of COVID-19 on Arrival’s business; (ii) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Arrival operates, (iii) the risk that Arrival and its current and future collaborators are unable to successfully develop and commercialize Arrival’s products or services, or experience significant delays in doing so, (iv) the risk that Arrival may never achieve or sustain profitability; (v) the risk that Arrival experiences difficulties in managing its growth and expanding operations, (vi) the risk that third-parties suppliers and manufacturers are not able to fully and timely meet their obligations; (vii) the risk that the utilization of Microfactories will not provide the expected benefits due to, among other things, the inability to locate appropriate buildings to use as Microfactories, Microfactories needing a larger than anticipated factory footprint, and the inability of Arrival to deploy Microfactories in the anticipated time frame; (viii) the risk that the orders that have been placed for vehicles, including the order from UPS, are cancelled or modified; (ix) the risk of product liability or regulatory lawsuits or proceedings relating to Arrival’s products and services; and (x) the risk that Arrival will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; and (xi) the risk that Arrival is unable to secure or protect its intellectual property. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Arrival’s annual report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 30, 2021 and other documents filed by Arrival with the SEC from time to time. Readers are cautioned not to put undue reliance on forward-looking statements, and Arrival assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Arrival does not give any assurance that Arrival will achieve its expectations.


For Press Information Contact:

Michael Markowitz
Director Technical Media Relations
STMicroelectronics
Tel: +1 781 591 0354
Email: [email protected]

Rachael Charlton
Head of PR
Arrival
Email: [email protected]

Attachments



Aravive Announces Positive Initial Results from Phase 1b Portion of the Phase1b/2 Study of AVB-500 in Combination with Cabozantinib in Clear Cell Renal Carcinoma

Encouraging Pharmacokinetics, Pharmacodynamics and Safety Profile at 15mg/kg of AVB-500

HOUSTON, June 24, 2021 (GLOBE NEWSWIRE) — Aravive Inc. (Nasdaq: ARAV), a clinical-stage oncology company developing innovative therapeutics to treat life-threatening diseases, today announced positive initial results from the Phase 1b portion of its Phase 1b/2 study in patients dosed with 15mg/kg of AVB-500 in combination with cabozantinib who have clear cell renal cell carcinoma (advanced stage kidney cancer). The data in three evaluable patients showed that AVB-500 was well tolerated with no unexpected findings.

Based on the pharmacokinetics, pharmacodynamics, and safety data at 15mg/kg of AVB-500, and approval by the Data and Safety Monitoring Board (DSMB), the Company plans to expand the dosing of 15mg/kg of AVB-500 to an additional three patients to determine the potential of initiating the Phase 2 portion with this dose. The Company also expects to continue to investigate higher doses of AVB-500 in the Phase 1b to obtain additional safety, pharmacokinetics, and pharmacodynamics information.

“We are pleased to announce the favorable results in the first cohort of our clear cell renal cell carcinoma Phase 1b study, as we continue to advance AVB-500 and evaluate its ability to address an urgent, high unmet medical need in patients with advanced kidney cancer who have very low survival rates,” said Gail McIntyre, Ph.D., Chief Executive Officer of Aravive. “We continue to focus on difficult-to-treat life threatening cancers with AVB-500, and in addition to our clear cell renal cell carcinoma clinical trial, our lead indication in paclitaxel resistant ovarian cancer is in a Phase 3 clinical trial, and we recently announced that we plan to initiate a Phase 1b/2 clinical trial in first-line metastatic pancreatic cancer in the second half of this year. We are enthusiastic about the clinical data with AVB-500 in combination with anticancer therapies that continue to show consistent PK/PD data and a favorable safety profile. These combinations may have the potential to be used in a range of different cancers.”

About the AVB-500 Phase 1b/2 Clinical Trial in Clear Cell Renal Cell Carcinoma (ccRCC)

Aravive initiated its Phase1b portion of the Phase 1b/2 trial of AVB-500 in ccRCC in March 2021.   The Phase 1b portion of the clinical trial, a dose escalation study, is expected to enroll up to a total of 18 patients in three dosing arms (15 mg/kg, 20 mg/kg and 25 mg/kg) to evaluate tolerability, pharmacokinetics, pharmacodynamics, and clinical activity of AVB-500 in combination with cabozantinib. The controlled, randomized, open-label Phase 2 portion of the clinical trial is expected to enroll up to 45 patients and investigate the recommended AVB-500 dose identified during the Phase 1b portion of the clinical trial in combination with cabozantinib versus cabozantinib alone. The primary endpoint is progression-free survival. The trial will enroll patients with advanced clear cell renal cell carcinoma (ccRCC) who have progressed on front-line treatment. The Phase 1b/2 trial is listed on clinicaltrials.gov NCT04300140.

About AVB-500

AVB-500 is a therapeutic recombinant fusion protein that has been shown to neutralize GAS6 activity by binding to GAS6 with very high affinity in preclinical models. In doing so, AVB-500 selectively inhibits the GAS6-AXL signaling pathway, which is upregulated in multiple cancer types including ovarian cancer. In preclinical studies, GAS6-AXL inhibition has shown anti-tumor activity in combination with a variety of anticancer therapies, including radiation therapy, immuno-oncology agents, and chemotherapeutic drugs that affect DNA replication and repair. Increased expression of AXL and GAS6 in tumors has been correlated with poor prognosis and decreased survival and has been implicated in therapeutic resistance to conventional chemotherapeutics and targeted therapies. AVB-500 is currently being evaluated in clinical trials and has been granted Fast Track Designation by the U.S. Food and Drug Administration in platinum resistant recurrent ovarian cancer. Analysis of all safety data to date showed that AVB-500 has been generally well-tolerated with no dose-limiting toxicities or unexpected safety signals.

About Aravive

Aravive, Inc. is a clinical-stage oncology company developing innovative therapeutics designed to halt the progression of life-threatening diseases. Aravive is based in Houston, Texas and received a Product Development Award from the Cancer Prevention & Research Institute of Texas (CPRIT) in 2016. Aravive’s lead therapeutic, AVB-500, is an ultra-high affinity decoy protein that targets the GAS6-AXL signaling pathway associated with tumor cell growth. Aravive successfully completed a Phase 1b trial of AVB-500 in platinum resistant ovarian cancer and has initiated a registrational Phase 3 trial of AVB-500 at a dose of 15 mg/kg. While the Phase 1b trial of AVB-500 in platinum resistant ovarian cancer was a safety trial and not powered to demonstrate efficacy, all 5 patients in the 15 mg/kg cohort experienced clinical benefit, with 1 complete response, 2 partial responses, and 2 stable disease. The Company is dosing patients in its Phase 1b/2 trial in clear cell renal cell carcinoma. For more information, please visit www.aravive.com.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions and includes statements regarding plans to expand the dosing of 15mg/kg of AVB-500 to an additional three patients to determine the potential of initiating the Phase 2 portion with this dose, investigating higher doses of AVB-500 in the Phase 1b to obtain additional safety, pharmacokinetics, and pharmacodynamics information, plans to initiate a Phase 1b/2 clinical trial in first-line metastatic pancreatic cancer in the second half of this year and the expected enrollment of the Phase 1b and Phase 2 portion of the trial of AVB-500 in ccRCC . Forward-looking statements are based on current beliefs and assumptions, are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statement as a result of various factors, including, but not limited to, risks and uncertainties related to: the Company’s ability to recruit for and enroll the expected number of patients into the Phase 1b and Phase 2 3 trial of AVB-500 in ccRCC as planned and continue dosing as planned the impact of COVID-19 on the Company’s clinical strategy, clinical trials, supply chain and fundraising, the Company’s ability to expand development into additional oncology indications, the Company’s dependence upon AVB-500, AVB-500’s ability to have favorable results in clinical trials and ISTs, the clinical trials of AVB-500 having results that are as favorable as those of preclinical and clinical trials, the ability to receive regulatory approval, potential delays in the Company’s clinical trials due to regulatory requirements or difficulty identifying qualified investigators or enrolling patients especially in light of the COVID-19 pandemic; the risk that AVB-500 may cause serious side effects or have properties that delay or prevent regulatory approval or limit its commercial potential; the risk that the Company may encounter difficulties in manufacturing AVB-500; if AVB-500 is approved, risks associated with its market acceptance, including pricing and reimbursement; potential difficulties enforcing the Company’s intellectual property rights; the Company’s reliance on its licensor of intellectual property and financing needs. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, recent Current Reports on Form 8-K and subsequent filings with the SEC. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

Joseph T. Schepers
VP, Investor Relations, Aravive, Inc.
[email protected]
(770) 558-5517



XPO Logistics Moves the Tour de France for the 41st Year

Transport operations prioritize safety and sustainability

GREENWICH, Conn., June 24, 2021 (GLOBE NEWSWIRE) —  XPO Logistics, Inc. (NYSE: XPO), a leading global provider of supply chain solutions, will take to the road on June 26 as the official transport partner of the Tour de France for the 41st consecutive year. When the Tour winner is declared in Paris on July 18, a team of 75 XPO drivers will have piloted 54 trucks over 3,383 kilometers, moving more than 420 tons of cargo.

XPO is responsible for ensuring the time-critical transport of equipment, fixtures, safety barriers and supplies throughout the Tour’s 21 stages for organizer Amaury Sport Organisation (A.S.O). The partners share a strong commitment to the safety and sustainability of race operations. XPO drivers and support staff will receive COVID-19 safety training and protective supplies, replicating the rigorous safety protocols that XPO and A.S.O. initiated together in 2020.

In addition, XPO has expanded its eco-friendly approach to this year’s event. The company will trial the biofuel Oleo100 in one of its Euro 6 diesel trucks for the first time, and will use a natural gas-powered truck from its alternative-fuel fleet for the final arrival at the Champs-Élysées finish line. All other trucks deployed by XPO for will use Euro 6 clean diesel engines, and the company is providing eco-training and organically sourced uniforms for its drivers.

Luis Gomez, managing director, transport – Europe, XPO Logistics, said, “The Tour de France is a thrilling challenge for our team, and we’re proud to once again serve as the competition’s official transport partner. We’ll be providing A.S.O. with a record level of support this year, while contributing to a greener profile of Tour operations.”

Jean-Luc Duplantier, logistics director of A.S.O., said, “XPO has risen to the challenge for many years, while constantly seeking to enhance their services. As we bring the Tour de France to over 10 million fans worldwide in 2021, XPO’s vital role behind the scenes will help ensure success.”

XPO will also participate in the Tour Fan Parks for the first time this year, offering blind spot awareness workshops and highlighting employment opportunities. Race followers can meet the XPO team at the free-admission Fan Park venues at Laval on June 29 and 30, Albertville on July 5 and 6, and Libourne on July 16 and 17.

XPO has a long track record of serving as an official partner for world-class sporting events, including the Ironman Triathlons in Europe, Schneider Electric Paris Marathon, Tour Voile (sailing), Evian Championship (golf), Arctic Race of Norway (cycling), Freeride World Tour (skiing and snowboarding), Coupe de France (soccer) and other premier competitions.

About XPO Logistics

XPO Logistics, Inc. (NYSE: XPO) provides cutting-edge supply chain solutions to the most successful companies in the world, with two business segments: transportation and logistics. The company helps more than 50,000 customers manage their supply chains most efficiently, using a network of 1,621 locations in 30 countries and approximately 140,000 team members, including 108,000 employees and 32,000 temporary workers. The company’s corporate headquarters are in Greenwich, Conn. USA. Visit xpo.com for more information, and connect with XPO on Facebook, Twitter, LinkedIn, Instagram and YouTube

Media Contacts 
XPO Logistics, Inc. 
Joe Checkler 
+1-203-423-2098 
[email protected] 

XPO Logistics Europe 
Anne Lafourcade 
[email protected] 
+33 (0)6 75 22 52 90 



WestRock Commits to Emissions Reductions; Pledges to Set a Science-Based Target

WestRock Commits to Emissions Reductions; Pledges to Set a Science-Based Target

Recognized by the Science Based Target initiative, Company will develop, validate and publish target aligned with latest climate science

ATLANTA–(BUSINESS WIRE)–
WestRock Company (NYSE: WRK), a leading provider of differentiated paper and packaging solutions, today announced its commitment to setting a new greenhouse gas emissions reduction target that is aligned with current climate science. WestRock has confirmed its commitment with the Science Based Targets initiative (SBTi) and will develop, validate and publish a science-based target within 24 months.

“Building on a proud legacy in sustainable forestry and fiber management, we believe in the promise of a sustainable future, and we are committed to working with our customers, our supply chain and the communities where we work to get there together,” said David B. Sewell, chief executive officer of WestRock. “That’s why we have prioritized setting emissions reduction targets to help reduce this critical element impacting climate change.”

This latest commitment builds on the progress WestRock has made as a sustainability leader within the packaging industry. As fiber-based packaging continues to grow in popularity, WestRock has been taking active steps for—and with—its customers to work toward a more circular economy. Pivotal to this progress is the company’s commitment to offering fiber-based alternatives to plastic packaging.

WestRock’s sustainability progress and performance is highlighted in its latest sustainability report prepared in accordance with Global Reporting Initiative (GRI) Standards – the world’s leading sustainability reporting framework – and shows the company’s ongoing commitment to transparency and accountability.

The Science Based Targets initiative is a collaboration between CDP, the World Resources Institute (WRI), Worldwide Fund for Nature (WWF), and the UN Global Compact (UNGC). During the 2015 Paris Agreement, 195 of the world’s governments committed to reducing the most dangerous impacts of climate change by limiting global warming to below 2 degrees Celsius signaling an acceleration in expectations surrounding the transition to a low carbon economy.

For more information on science-based targets and the SBTi’s Call to Action visit the SBTi website.

About SBTi

The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact (UN Global Compact), World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and is one of the We Mean Business Coalition commitments. The initiative champions science-based target setting as a powerful way of boosting companies’ competitive advantage in the transition to the low-carbon economy. Science-based targets are greenhouse gas emissions reduction targets that are in line with the level of decarbonization required to meet the goals of the Paris Agreement – to limit global warming to well-below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C.

About WestRock

WestRock (NYSE: WRK) partners with our customers to provide differentiated, sustainable paper and packaging solutions that help them win in the marketplace. WestRock’s team members support customers around the world from locations spanning North America, South America, Europe, Asia and Australia. Learn more at westrock.com/sustainability.

Cautionary Statements

This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on our current expectations, beliefs, plans or forecasts and are typically identified by words or phrases such as “may,” “will,” “could,” “should,” “would,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “target,” “prospects,” “potential” and “forecast,” and other words, terms and phrases of similar meaning. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties. The Company cautions readers that a forward-looking statement is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statement. Such forward-looking statements include, but are not limited to, that we will develop, validate and publish an approved science-based target within 24 months. The Company’s businesses are subject to a number of risks that would affect any such forward-looking statements, including, among others, the level of demand for our products; our ability to respond effectively to the impact of COVID-19; our ability to successfully identify and make performance and productivity improvements; increases in energy, raw materials, shipping and capital equipment costs; reduced supply of raw materials; the Company’s ongoing assessment of the recent ransomware incident, adverse legal, reputational and financial effects on the Company resulting from the incident or additional cyber incidents and the effectiveness of the Company’s business continuity plans during the ransomware incident; fluctuations in selling prices and volumes; intense competition; the potential loss of certain customers; the scope, costs, timing and impact of any restructuring of our operations and corporate and tax structure; the occurrence of severe weather or a natural disaster or other unanticipated problems, such as labor difficulties, equipment failure or unscheduled maintenance and repair, which could result in operational disruptions, including those related to COVID-19; our desire or ability to continue to repurchase company stock; the scope, timing and outcome of any litigation, claims or other proceedings or dispute resolutions and the impact of any such litigation; our ability to realize anticipated synergies from the KapStone acquisition; and adverse changes in general market and industry conditions. Such risks and other factors that may impact management’s assumptions are more particularly described in our filings with the Securities and Exchange Commission, including in Part I, Item 1A “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended September 30, 2020. The information contained herein speaks as of the date hereof and the Company does not have or undertake any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

Investors:

James Armstrong, 470-328-6327

Vice President, Investor Relations

[email protected]

Media:

Courtney James, 470-328-6397

Senior Manager, Corporate Communications and Public Relations

[email protected]

KEYWORDS: Georgia United States North America

INDUSTRY KEYWORDS: Packaging Environment Manufacturing

MEDIA:

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AGTC Reports 12-Month Data from its Ongoing Phase 1/2 Achromatopsia Clinical Trials Showing Biologic Activity in Patients with Mutations in the ACHM B3 Gene

– Activities to support the next stage of clinical development of ACHM B3 candidate are ongoing-

– Dosing of pediatric patients in ACHM B3 program and ACHM A3 program is expected to be completed in August 2021 –

– Conference call to review data today at 8:00am ET –

GAINESVILLE, Fla. and CAMBRIDGE, Mass., June 24, 2021 (GLOBE NEWSWIRE) — Applied Genetic Technologies Corporation (Nasdaq: AGTC), a biotechnology company conducting human clinical trials of adeno-associated virus (AAV)-based gene therapies for the treatment of rare retinal diseases, today reported 12-month data from its ongoing achromatopsia (ACHM) Phase 1/2 clinical trials, including data from all adult patients and low-dose pediatric patients. For its ACHM B3 candidate, results demonstrate biologic activity based on improvements in visual sensitivity in the treated area measured by static perimetry and light discomfort measured by the Ocular Photosensitivity Analyzer (OPA) and are supported by anecdotal patient reports. In addition, the safety profile of the Company’s ophthalmic gene therapy platform remained favorable. Based on these data, AGTC intends to advance the ACHM B3 trial to the next stage of clinical development. The path forward for ACHM A3 will be determined after additional pediatric patient data and pre-clinical studies are available and can be evaluated.

“The results regarding responders in the ACHM B3 trial are encouraging,” said Rachel Huckfeldt, MD, PhD, Assistant Professor of Ophthalmology at Harvard Medical School and an investigator on the ongoing AGTC achromatopsia Phase 1/2 trials. “The data from the ACHM B3 trial support further clinical investigation of this candidate, and data from additional pediatric patients may support the focused development of the ACHM A3 candidate specifically in younger patients.” 

“We are incredibly pleased with these data, which further support AGTC as a leader in the field of ophthalmic gene therapy. Our strong capabilities lead to differentiated products based on capsid and vector engineering, robust manufacturing, and rigorous preclinical evaluation of our product candidates in validated models of retinal diseases,” said Sue Washer, President and CEO of AGTC. “We believe that these data provide important validation for the broad potential of our AAV technology platform and build on and extend the favorable safety and efficacy profiles observed to date in the clinical trials of our candidate for X-linked retinitis pigmentosa.”

ACHM B3 12-Month Results

12-month data, which are available for 25 patients, consisting of 21 adult and 4 pediatric (<18 years of age) patients, show continued improvements on perimetry for higher dose and younger patients and include positive patient anecdotes. Improvements in retinal sensitivity as measured by static perimetry were seen in the treated eye compared with the untreated eye in four of 11 patients from the high-dose and pediatric cohorts. Improvements in light discomfort as measured by OPA, were also observed in six of these 11 patients.

Improvements in light discomfort also were observed in the untreated eye of these patients, which we believe may suggest possible cortical adaptation within the brain. There is no evidence that this observation is due to the presence of the ACHM B3 vector in the untreated eye. At the Company’s R&D Day, which is scheduled to take place on Thursday, July 22, 2021, beginning at 10:00 AM ET, an external expert is scheduled to provide a more detailed analysis of the bilateral light discomfort finding and its potential causes. This will be in addition to clinical investigators presenting a detailed patient by patient review of all the data to date.

Based on these data, AGTC plans to advance its ACHM B3 program to the next stage of clinical development. Toward this end, the Company is drafting an End-of-Phase 2 (EOP2) briefing packet to submit to the U.S. Food and Drug Administration, developing assays for pivotal ready testing, and planning production of clinical trial material.

AGTC plans to continue to collect data from younger pediatric patients that may provide additional supportive data for the development of ACHM B3, but this data will not be a gating factor for the Company’s current clinical development activities.

ACHM A3 12-Month Results

12-month data are available for 20 patients, including 16 adults and 4 pediatric patients. The results at this time point do not show consistent evidence of ACHM A3 candidate biologic activity, although we believe that the patient-reported anecdotes continue to be encouraging. In contrast with patients in the B3 trial, the majority of whom have mutations that results in the complete absence of B3 protein, the majority of A3 patients have mutations that result in the production of non-functional protein. The results observed to date in the Phase 1/2 ACHM trials suggest that the presence of these non-functional proteins may interfere with the activity of the vector expressed ACHM A3 protein. There will be an external expert at R&D Day to provide a deeper analysis.

Safety Data

Consistent with earlier data from the Company’s ACHM Phase 1/2 trials and data out to 24 months for its X-linked retinitis pigmentosa candidate, 12-month ACHM data continue to support a favorable safety profile for AGTC’s AAV technology platform. No serious adverse events (SAEs) related to the ACHM candidates were reported; one SAE was related to the surgical procedure and has resolved, two SAEs were related to the use of steroids and one has resolved, and one is improving.

Upcoming ACHM Clinical Milestones

AGTC believes it has a best-in-class ACHM B3 product candidate that may provide significant benefit to patients. The Company expects to report 3-month data from younger pediatric patients in both the ACHM B3 and ACHM A3 trials in the fourth quarter of 2021.

Conference Call and Webcast

AGTC will host a conference call and webcast to discuss the 12-month data from its ongoing Phase 1/2 ACHM clinical trials today at 8:00am ET. The live webcast will be available in the Events and Presentations section of the Investor Relations page at http://ir.agtc.com/events-and-presentations. To access the call, dial 877-407-6184 (US) or 201-389-0877 (outside of the US). Please log in approximately 10 minutes prior to the scheduled start time.

The archived webcast will be available in the Events and Presentations section of the Company’s website.

About AGTC

AGTC is a clinical-stage biotechnology company developing genetic therapies for people with rare and debilitating ophthalmic, otologic and central nervous system (CNS) diseases. AGTC is a leader in designing and constructing all critical gene therapy elements and bringing them together to develop customized therapies that address real patient needs. AGTC’s most advanced clinical programs leverage its best-in-class technology platform to potentially improve vision for patients with an inherited retinal disease. AGTC has active clinical trials in X-linked retinitis pigmentosa (XLRP) and achromatopsia (ACHM B3 and ACHM A3). Its preclinical programs build on the Company’s industry leading AAV manufacturing technology and scientific expertise. AGTC is advancing multiple important pipeline candidates to address substantial unmet clinical need in optogenetics, otology and CNS disorders. In recent years AGTC has entered into strategic partnerships with companies including Otonomy, Inc., a biopharmaceutical company dedicated to the development of innovative therapeutics for neurotology, and Bionic Sight, LLC, an innovator in the emerging field of optogenetics and retinal coding.

Forward-Looking Statements

This release contains forward-looking statements that reflect AGTC’s plans, estimates, assumptions and beliefs, including statements regarding AGTC’s proposed clinical development of ACHM B3, planned pediatric surgeries for its ACHM clinical programs and the potential that future pediatric data will be supportive of future development of ACHM A3, the potential results of both its ACHM trials, its ability to enroll patients for its clinical trials, regulatory progress, potential growth and market opportunities, and the effects of competition. Forward-looking statements include information concerning possible or assumed future results of operations, financial guidance, business strategies and operations, preclinical and clinical product development and regulatory progress, potential growth opportunities, potential market opportunities, the effects of competition and the impact of the COVID-19 pandemic, including the impact on its ability to enroll patients. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “anticipates,” “believes,” “could,” “seeks,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “projects,” “should,” “will,” “would” or similar expressions and the negatives of those terms. Actual results could differ materially from those discussed in the forward-looking statements, due to a number of important factors. Risks and uncertainties that may cause actual results to differ materially include, among others: gene therapy is still novel with only a few approved treatments so far; AGTC cannot predict when or if it will obtain regulatory approval to commercialize a product candidate or receive reasonable reimbursement; uncertainty inherent in clinical trials and the regulatory review process; risks and uncertainties associated with drug development and commercialization; the direct and indirect impacts of the ongoing COVID-19 pandemic on our business, results of operations, and financial condition; factors that could cause actual results to differ materially from those described in the forward-looking statements are set forth under the heading “Risk Factors” in our most recent annual or quarterly report and in other reports we have filed with the SEC. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Also, forward-looking statements represent management’s plans, estimates, assumptions and beliefs only as of the date of this release. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

IR/PR CONTACTS: 

David Carey (IR) or Glenn Silver (PR)
Lazar FINN Partners
T: 212-867-1768 or 646-871-8485
[email protected] or [email protected]

Corporate Contact:

Stephen Potter
Chief Business Officer
Applied Genetic Technologies Corporation
T: 617-413-2754
[email protected]



Rite Aid Corporation Reports Fiscal 2022 First Quarter Results

Rite Aid Corporation Reports Fiscal 2022 First Quarter Results

  • Revenues from Continuing Operations Increased 2.2 Percent to $6.16 Billion Compared to Prior Year First Quarter Revenues from Continuing Operations of $6.03 Billion
  • Approximately 4.7 Million COVID-19 Vaccines Administered in First Quarter
  • First Quarter Net Loss from Continuing Operations of $13.1 Million or $0.24 Per Share, Compared to the Prior Year First Quarter Net Loss of $72.7 Million or $1.36 Per Share
  • First Quarter Adjusted Net Income from Continuing Operations of $20.9 Million or $0.38 Per Share, Compared to the Prior Year First Quarter Adjusted Net Loss of $2.0 Million or $0.04 Per Share
  • First Quarter Adjusted EBITDA from Continuing Operations of $138.9 Million, Compared to the Prior Year First Quarter Adjusted EBITDA of $107.4 Million
  • Company Provides Fiscal 2022 Outlook

CAMP HILL, Pa.–(BUSINESS WIRE)–
Rite Aid Corporation (NYSE: RAD) today reported operating results for its first fiscal quarter ended May 29, 2021.

For the first quarter, the company reported net loss from continuing operations of $13.1 million, or $0.24 loss per share, Adjusted net income from continuing operations of $20.9 million, or $0.38 income per share, and Adjusted EBITDA from continuing operations of $138.9 million, or 2.3 percent of revenues.

“We are pleased with our first quarter results, as we delivered adjusted EBITDA at the top end of our guidance range and continued our extraordinary efforts to vaccinate Americans against COVID-19,” said Heyward Donigan, president and chief executive officer, Rite Aid. “As a result of the tireless efforts and dedication of our teams, I am proud to announce that we delivered nearly 4.7 million COVID-19 vaccines in the first quarter. We have now provided over 6 million COVID-19 vaccines since we began administering shots late last fiscal year.”

“Our results improved sequentially through the first quarter, and we have momentum in several areas of our business as the country began taking meaningful steps towards a post-pandemic world. With a healthier economy and the reopening of the communities we serve, combined with the execution of our RxEvolution strategy, we are well positioned to deliver on our strategic priorities. I am very proud of our over 50,000 associates and the progress we’re making in our journey to revitalize our brand and elevate the crucial role that pharmacy plays in the health of our customers.”

Consolidated First Quarter Summary

(dollars in thousands)

 

Thirteen Week Period Ended

 

 

 

May 29, 2021

 

 

May 30, 2020

 

Revenues from continuing operations

 

$

6,160,985

 

 

$

6,027,376

 

Net loss from continuing operations

 

 

(13,057

)

 

 

(72,702

)

Adjusted EBITDA from continuing operations

 

 

138,877

 

 

 

107,392

 

Revenues from continuing operations for the quarter were $6.16 billion compared to revenues from continuing operations of $6.03 billion in the prior year’s quarter. The 2.2 percent increase in revenues was driven by growth at the Retail Pharmacy Segment, partially offset by a decline at the Pharmacy Services Segment.

Net loss from continuing operations was $13.1 million, or $0.24 per share, compared to last year’s first quarter net loss from continuing operations of $72.7 million, or $1.36 per share. The improvement in net loss is due primarily to improved operating results in the Retail Pharmacy Segment, higher intangible asset impairment charges in the prior year first quarter, and lower restructuring-related costs as a result of last year’s merchandise optimization program. These benefits were partially offset by litigation settlements in the current quarter, a lower LIFO credit, and an increase in income tax expense.

Adjusted EBITDA from continuing operations was $138.9 million or 2.3% of revenues, compared to last year’s first quarter Adjusted EBITDA of $107.4 million or 1.8% of revenues. The improvement in Adjusted EBITDA was driven by an increase in gross profit resulting from an increase in prescription volume in our Retail Pharmacy Segment.

Retail Pharmacy Segment

(dollars in thousands)

 

Thirteen Week Period Ended

 

 

May 29, 2021

 

 

May 30, 2020

Revenues from continuing operations

 

$

4,351,682

 

 

$

4,123,271

Adjusted EBITDA from continuing operations

 

 

94,914

 

 

 

62,982

Retail Pharmacy Segment revenues from continuing operations increased 5.5 percent over the prior year quarter, driven by an increase in same store sales and the inclusion of Bartell’s results this quarter. Same store sales from continuing operations for the first quarter increased 1.4 percent over the prior year period, consisting of an 8.2 percent increase in pharmacy sales and a 12.0 percent decrease in front-end sales. Front-end same store sales, excluding cigarettes and tobacco products, decreased 11.5 percent, driven by decreases in general cleaning products, sanitizers, wipes, paper products, liquor, and over-the-counter products resulting from the pandemic driven surge in the prior year quarter. The number of prescriptions filled in same stores, adjusted to 30-day equivalents, increased 11.2 percent over the prior year period. In addition to the benefit from COVID-19 vaccinations, other acute prescriptions increased 3 percent and maintenance prescriptions increased 2 percent on a same store basis. Prescription sales from continuing operations accounted for 68.9 percent of total drugstore sales. Total store count at the end of the first quarter was 2,506.

Retail Pharmacy Segment Adjusted EBITDA from continuing operations was $94.9 million, or 2.2 percent of revenues, for the first quarter compared to last year’s first quarter Adjusted EBITDA from continuing operations of $63.0 million, or 1.5 percent of revenues. The improvement in Adjusted EBITDA was driven by an increase in gross profit resulting from higher pharmacy same store sales, partially offset by pharmacy reimbursement rate pressures that were not fully offset by generic drug cost reductions and a decline in front end gross profit as we cycled the impact of the prior year’s COVID-19 buying surge.

Pharmacy Services Segment

(dollars in thousands)

 

Thirteen Week Period Ended

 

 

May 29, 2021

 

 

May 30, 2020

Revenues from continuing operations

 

$

1,872,282

 

 

$

1,977,246

Adjusted EBITDA from continuing operations

 

 

43,963

 

 

 

44,410

Pharmacy Services Segment revenues were $1.9 billion for the quarter, a decrease of 5.3 percent compared to the prior year quarter. The decrease in revenues was primarily the result of a decrease in lives stemming from the loss of a large customer account and a decrease in Medicare Part D membership.

Pharmacy Services Segment Adjusted EBITDA from continuing operations was $44.0 million, or 2.3 percent of revenues, for the first quarter and was flat to last year’s first quarter Adjusted EBITDA from continuing operations of $44.4 million, or 2.2 percent of revenues. Improvements in the company’s discount card business and good network management were offset by the decline in revenues and an increase in the medical loss ratio tied to the company’s Medicare Part D business.

Outlook for Fiscal 2022

The company’s outlook for fiscal 2022 is based on the following key assumptions:

  • No assumed benefit for additional COVID-19 boosters or for vaccinations of children under 12.
  • Acute scripts and front end OTC sales will be below historical levels as we do not expect a full recovery in cough, cold and flu results.
  • The markets in which our retail stores operate will not be subject to lockdowns caused by COVID-19.
  • Continued reimbursement rate pressure in our retail pharmacy business.
  • A decrease in Elixir revenues due to the loss of a large customer account and the planned reduction in Medicare Part D lives.
  • Improved Elixir EBITDA margin due to continued strong network and rebate management, offset by pressure from an increase in medical loss ratio tied to the company’s Medicare Part D business.
  • Increased investment at Elixir in personnel and technology spend to drive future sales and to develop a more efficient operating platform.
  • Increased investments in retail wages in to drive improved customer satisfaction and revenue.

Total revenues are expected to be between $25.1 billion and $25.5 billion in fiscal 2022. Pharmacy Services Segment revenue is expected to be between $7.9 billion and $8.0 billion (net of any intercompany revenues to the Retail Pharmacy Segment).

Net loss is expected to be between $175 million and $138 million.

Adjusted EBITDA is expected to be between $440 million and $480 million.

Adjusted net loss per share is expected to be between $0.79 and $0.24.

Capital expenditures are expected to be approximately $300 million.

Conference Call Broadcast

Rite Aid will hold an analyst call at 8:30 a.m. Eastern Time today with remarks by Rite Aid’s management team. The call will be broadcast via the Internet at https://investors.riteaid.com. The telephone replay will be available beginning at 12:00 p.m. Eastern Time on Thursday, June 24, 2021 and ending at 11:59 p.m. Eastern Time on July 24, 2021. To access the replay of the call, telephone (800) 585-8367 or (416) 621-4642 and enter the seven-digit reservation number 3989887. The webcast replay of the call will also be available at https://investors.riteaid.com starting at 12 p.m. Eastern Time today. The playback will be available until the company’s next conference call.

About Rite Aid Corporation

Rite Aid Corporation is on the front lines of delivering healthcare services and retail products to Americans 365 days a year. Our pharmacists are uniquely positioned to engage with customers and improve their health outcomes. We provide an array of whole being health products and services for the entire family through over 2,500 retail pharmacy locations across 17 states. Through Elixir, we provide pharmacy benefits and services to millions of members nationwide. For more information, www.riteaid.com.

Cautionary Statement Regarding Forward-Looking Statements

Statements in this release that are not historical, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements regarding Rite Aid’s outlook and guidance for fiscal 2022; the continued impact of the global coronavirus (COVID-19) pandemic on Rite Aid’s business; and any assumptions underlying any of the foregoing. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” and “will” and variations of such words and similar expressions are intended to identify such forward-looking statements.

These forward-looking statements are not guarantees of future performance and involve risks, assumptions and uncertainties, including, but not limited to: risks related to the impact of the COVID-19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, and other impacts to the business, or on our ability to execute business continuity plans, as a result of the COVID-19 pandemic; the impact of COVID-19 on our workforce, operations, stores, expenses, and supply chain, and the operations or behaviors of our customers, suppliers and business partners; our ability to successfully implement our RxEvolution and other strategies; the impact of our high level of indebtedness, the ability to refinance such indebtedness on acceptable terms and our ability to satisfy our obligations and the other covenants contained in our debt agreements; outcome of pending or new litigation including related to Opioids, “usual and customary” pricing or other matters; our ability to monetize the CMS receivable created in our Part D business; general competitive, economic, industry, market, political (including healthcare reform) and regulatory conditions (including changes to laws or regulations relating to labor or wages), civil unrest (including any resulting store closures, damage, or loss of inventory), as well as other factors that impact the markets in which we operate; the impact of private and public third-party payers continued reduction in prescription drug reimbursements and efforts to encourage mail order; our ability to manage expenses and our investments in working capital; our ability to achieve the benefits of our efforts to reduce the costs of our generic and other drugs; our ability to achieve cost savings and other benefits of our organizational restructuring within our anticipated timeframe, if at all; the outcome of our continuing efforts to monitor and comply with applicable laws, regulations, policies and procedures; and our ability to partner and have relationships with health plans and health systems.

These and other risks, assumptions and uncertainties are more fully described in Item 1A (Risk Factors) of our most recent Annual Report on Form 10-K and in other documents that we file or furnish with the Securities and Exchange Commission (the “SEC”), which you are encouraged to read. To the extent that COVID-19 adversely affects our business and financial results, it may also have the effect of heightening many of such risk factors.

Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to rely on these forward-looking statements, which speak only as of the date they are made.

The degree to which COVID-19 may adversely affect Rite Aid’s results and operations, including its ability to achieve its outlook for fiscal 2022 guidance, will depend on numerous evolving factors and future developments, which are highly uncertain, including, but not limited to, the duration and spread of the COVID-19 outbreak, its severity, the actions to contain the virus or treat its impact, including the reinstitution of more stringent regulations (including mandatory stay at home orders), and how quickly and to what extent normal economic and operating conditions can resume. As a result, the impact on Rite Aid’s financial and operating results cannot be reasonably estimated with specificity at this time, but the impact could be material. Rite Aid expressly disclaims any current intention, and assumes no duty, to update publicly any forward-looking statement after the distribution of this release, whether as a result of new information, future events, changes in assumptions or otherwise.

All references to “Company” and “Rite Aid” as used throughout this release refer to Rite Aid Corporation and its affiliates.

Reconciliation of Non-GAAP Financial Measures

Rite Aid separately reports financial results on the basis of Adjusted Net Income (Loss), Adjusted Net Income (Loss) per Diluted Share, Adjusted EBITDA, Adjusted EBITDA Gross Profit and Adjusted EBITDA SG&A, which are non-GAAP financial measures. See the attached tables for a reconciliation of Adjusted Net Income (Loss), Adjusted Net Income (Loss) per Diluted Share and Adjusted EBITDA to net income (loss), and net income (loss) per diluted share, which are the most directly comparable GAAP financial measures. Adjusted Net Income (Loss) and Adjusted Net Income (Loss) per Diluted Share exclude amortization expense, merger and acquisition-related costs, non-recurring litigation settlements, gains or losses on debt modifications and retirements, LIFO adjustments, goodwill and intangible asset impairment charges, and restructuring-related costs. Rite Aid believes Adjusted Net Income (Loss) and Adjusted Net Income (Loss) per Diluted Share serve as appropriate measures to be used in evaluating the performance of its business and help its investors better compare its operating performance over multiple periods.

Adjusted EBITDA is defined as net income (loss) excluding the impact of income taxes, interest expense, depreciation and amortization, LIFO adjustments, charges or credits for facility closing and impairment, goodwill and intangible asset impairment charges, inventory write-downs related to store closings, gains or losses on debt modifications and retirements, and other items (including stock-based compensation expense, merger and acquisition-related costs, non-recurring litigation settlements, severance, restructuring-related costs, costs related to facility closures, and gain or loss on sale of assets). The add back of LIFO (credit) charge when calculating Adjusted EBITDA, Adjusted Net Income (Loss) and Adjusted Net Income (Loss) per Diluted Share removes the entire impact of LIFO (credits) charges, and effectively reflects Rite Aid’s results as if the company was on a FIFO inventory basis.Rite Aid believes Adjusted EBITDA serves as an appropriate measure in evaluating the performance of its business and helps its investors better compare its operating performance with its competitors.

Adjusted EBITDA Gross Profit includes LIFO adjustments, depreciation and amortization (COGS portion only) and other items. See the attached tables for a reconciliation of Adjusted EBITDA Gross Profit to Revenue, which is the most directly comparable GAAP financial measure. Adjusted EBITDA SG&A excludes depreciation and amortization (SG&A portion only), stock-based compensation expense, merger and acquisition-related costs, litigation settlements and other items. See the attached tables for a reconciliation of Adjusted EBITDA SG&A to Revenue, which is the most directly comparable GAAP financial measure. The Company believes Adjusted EBITDA Gross Profit and Adjusted EBITDA SG&A serve as appropriate measures in evaluating the performance of its business and helps its investors better compare its operating performance with its competitors.

 
RITE AID CORPORATION AND SUBSIDIARIES
 
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
(unaudited)
 
 
 
May 29, 2021 February 27, 2021
ASSETS
Current assets:
Cash and cash equivalents

$

118,480

 

$

160,902

 

Accounts receivable, net

 

1,612,596

 

 

1,462,441

 

Inventories, net of LIFO reserve of $481,866 and $485,859

 

1,856,968

 

 

1,864,890

 

Prepaid expenses and other current assets

 

96,908

 

 

106,941

 

Total current assets

 

3,684,952

 

 

3,595,174

 

Property, plant and equipment, net

 

1,074,596

 

 

1,080,499

 

Operating lease right-of-use assets

 

3,013,577

 

 

3,064,077

 

Goodwill

 

1,108,136

 

 

1,108,136

 

Other intangibles, net

 

325,882

 

 

340,519

 

Deferred tax assets

 

14,964

 

 

14,964

 

Other assets

 

129,339

 

 

132,035

 

Total assets

$

9,351,446

 

$

9,335,404

 

 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current maturities of long-term debt and lease financing obligations

$

7,261

 

$

6,409

 

Accounts payable

 

1,537,469

 

 

1,437,421

 

Accrued salaries, wages and other current liabilities

 

677,151

 

 

642,364

 

Current portion of operating lease liabilities

 

517,602

 

 

516,752

 

Total current liabilities

 

2,739,483

 

 

2,602,946

 

Long-term debt, less current maturities

 

3,014,517

 

 

3,063,087

 

Long-term operating lease liabilities

 

2,771,797

 

 

2,829,293

 

Lease financing obligations, less current maturities

 

16,162

 

 

16,711

 

Other noncurrent liabilities

 

205,507

 

 

208,213

 

Total liabilities

 

8,747,466

 

 

8,720,250

 

 
Commitments and contingencies

 

 

 

 

Stockholders’ equity:
Common stock

 

55,093

 

 

55,143

 

Additional paid-in capital

 

5,898,951

 

 

5,897,168

 

Accumulated deficit

 

(5,326,160

)

 

(5,313,103

)

Accumulated other comprehensive loss

 

(23,904

)

 

(24,054

)

Total stockholders’ equity

 

603,980

 

 

615,154

 

Total liabilities and stockholders’ equity

$

9,351,446

 

$

9,335,404

 

 
RITE AID CORPORATION AND SUBSIDIARIES
 
CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except per share amounts)
(unaudited)
 
 
 
Thirteen weeks ended
May 29, 2021
Thirteen weeks ended
May 30, 2020
Revenues

$

6,160,985

 

$

6,027,376

 

Costs and expenses:
Cost of revenues

 

4,876,110

 

 

4,829,057

 

Selling, general and administrative expenses

 

1,245,362

 

 

1,197,147

 

Lease termination and impairment charges

 

8,831

 

 

3,753

 

Intangible asset impairment charges

 

 

 

29,852

 

Interest expense

 

49,121

 

 

50,547

 

Loss on debt retirements, net

 

396

 

 

 

Gain on sale of assets, net

 

(6,558

)

 

(2,260

)

 

 

6,173,262

 

 

6,108,096

 

 
Loss from continuing operations before income taxes

 

(12,277

)

 

(80,720

)

Income tax expense (benefit)

 

780

 

 

(8,018

)

Net loss from continuing operations

 

(13,057

)

 

(72,702

)

Net income from discontinued operations, net of tax

 

 

 

9,161

 

Net loss

$

(13,057

)

$

(63,541

)

 
 
 
Basic and diluted loss per share:
 
Numerator for loss per share:
Net loss from continuing operations attributable to common stockholders – basic and diluted

$

(13,057

)

$

(72,702

)

Net income from discontinued operations attributable to common stockholders – basic and diluted

 

 

 

9,161

 

Loss attributable to common stockholders – basic and diluted

$

(13,057

)

$

(63,541

)

 
 
 
Denominator:
Basic and diluted weighted average shares

 

53,852

 

 

53,462

 

 
Basic and diluted loss per share
Continuing operations

$

(0.24

)

$

(1.36

)

Discontinued operations

$

 

$

0.17

 

Net basic and diluted loss per share

$

(0.24

)

$

(1.19

)

 
RITE AID CORPORATION AND SUBSIDIARIES
 
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in thousands)
(unaudited)
 
 
 
Thirteen weeks ended
May 29, 2021
Thirteen weeks ended
May 30, 2020
 
 
OPERATING ACTIVITIES:
Net loss

$

(13,057

)

$

(63,541

)

Net income from discontinued operations, net of tax

 

 

 

9,161

 

Net loss from continuing operations

$

(13,057

)

$

(72,702

)

Adjustments to reconcile to net cash provided by (used in) operating activities of continuing operations:
Depreciation and amortization

 

75,859

 

 

79,103

 

Lease termination and impairment charges

 

8,831

 

 

3,753

 

Intangible asset impairment charges

 

 

 

29,852

 

LIFO credit

 

(3,993

)

 

(12,066

)

Gain on sale of assets, net

 

(6,558

)

 

(2,260

)

Stock-based compensation expense

 

2,811

 

 

1,874

 

Loss on debt retirements, net

 

396

 

 

 

Changes in operating assets and liabilities:
Accounts receivable

 

(149,487

)

 

(308,636

)

Inventories

 

11,918

 

 

43,647

 

Accounts payable

 

50,527

 

 

13,320

 

Operating lease right-of-use assets and operating lease liabilities

 

(5,909

)

 

(6,595

)

Other assets

 

7,978

 

 

99,177

 

Other liabilities

 

34,559

 

 

13,263

 

Net cash provided by (used in) operating activities of continuing operations

 

13,875

 

 

(118,270

)

INVESTING ACTIVITIES:
Payments for property, plant and equipment

 

(59,164

)

 

(28,459

)

Intangible assets acquired

 

(5,436

)

 

(10,715

)

Proceeds from dispositions of assets and investments

 

2,448

 

 

2,755

 

Proceeds from sale-leaseback transactions

 

7,456

 

 

 

Net cash used in investing activities of continuing operations

 

(54,696

)

 

(36,419

)

FINANCING ACTIVITIES:
Net proceeds from revolver

 

39,000

 

 

242,000

 

Principal payments on long-term debt

 

(91,941

)

 

(1,298

)

Change in zero balance cash accounts

 

51,957

 

 

(26,567

)

Financing fees paid for early debt redemption

 

(2

)

 

 

Payments for taxes related to net share settlement of equity awards

 

(35

)

 

(99

)

Deferred financing costs paid

 

(580

)

 

(1,332

)

Net cash (used in) provided by financing activities of continuing operations

 

(1,601

)

 

212,704

 

Cash flows from discontinued operations:
Operating activities of discontinued operations

 

 

 

(82,189

)

Investing activities of discontinued operations

 

 

 

94,310

 

Net cash provided by discontinued operations

 

 

 

12,121

 

(Decrease) increase in cash and cash equivalents

 

(42,422

)

 

70,136

 

Cash and cash equivalents, beginning of period

 

160,902

 

 

218,180

 

Cash and cash equivalents, end of period

$

118,480

 

$

288,316

 

 
RITE AID CORPORATION AND SUBSIDIARIES
 
SUPPLEMENTAL SEGMENT OPERATING INFORMATION
(Dollars in thousands)
(unaudited)
 
 
Thirteen weeks ended
May 29, 2021
Thirteen weeks ended
May 30, 2020
 
Retail Pharmacy Segment
Revenues from continuing operations (a)

$

4,351,682

 

$

4,123,271

 

Cost of revenues from continuing operations (a)

 

3,181,748

 

 

3,041,735

 

Gross profit from continuing operations

 

1,169,934

 

 

1,081,536

 

LIFO credit from continuing operations

 

(3,993

)

 

(12,066

)

FIFO gross profit from continuing operations

 

1,165,941

 

 

1,069,470

 

Adjusted EBITDA gross profit from continuing operations

 

1,168,338

 

 

1,098,427

 

 
Gross profit as a percentage of revenues – continuing operations

 

26.88

%

 

26.23

%

LIFO credit as a percentage of revenues – continuing operations

 

-0.09

%

 

-0.29

%

FIFO gross profit as a percentage of revenues – continuing operations

 

26.79

%

 

25.94

%

Adjusted EBITDA gross profit as a percentage of revenues – continuing operations

 

26.85

%

 

26.64

%

 
Selling, general and administrative expenses from continuing operations

 

1,156,039

 

 

1,108,976

 

Adjusted EBITDA selling, general and administrative expenses from continuing operations

 

1,073,424

 

 

1,035,445

 

Selling, general and administrative expenses as a percentage of revenues – continuing operations

 

26.57

%

 

26.90

%

Adjusted EBITDA selling, general and administrative expenses as a percentage of revenues – continuing operations

 

24.67

%

 

25.11

%

 
Cash interest expense

 

46,024

 

 

47,368

 

Non-cash interest expense

 

3,097

 

 

3,179

 

Total interest expense

 

49,121

 

 

50,547

 

Interest expense – continuing operations

 

49,121

 

 

50,547

 

Interest expense – discontinued operations

 

 

 

 

 
Adjusted EBITDA – continuing operations

 

94,914

 

 

62,982

 

Adjusted EBITDA as a percentage of revenues – continuing operations

 

2.18

%

 

1.53

%

 
 
Pharmacy Services Segment
Revenues (a)

$

1,872,282

 

$

1,977,246

 

Cost of revenues (a)

 

1,757,341

 

 

1,860,463

 

Gross profit

 

114,941

 

 

116,783

 

 
Gross profit as a percentage of revenues

 

6.14

%

 

5.91

%

 
Adjusted EBITDA

 

43,963

 

 

44,410

 

Adjusted EBITDA as a percentage of revenues

 

2.35

%

 

2.25

%

 
(a) – Revenues and cost of revenues include $62,979 and $73,141 of inter-segment activity for the thirteen weeks ended May 29, 2021 and May 30, 2020, respectively, that is eliminated in consolidation.
RITE AID CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA
(In thousands)
(unaudited)
 
 
 
Thirteen weeks ended
May 29, 2021
Thirteen weeks ended
May 30, 2020
 
 
Reconciliation of net loss to adjusted EBITDA:
Net loss – continuing operations

$

(13,057

)

$

(72,702

)

Adjustments:
Interest expense

 

49,121

 

 

50,547

 

Income tax expense (benefit)

 

780

 

 

(8,018

)

Depreciation and amortization

 

75,859

 

 

79,103

 

LIFO credit

 

(3,993

)

 

(12,066

)

Lease termination and impairment charges

 

8,831

 

 

3,753

 

Intangible asset impairment charges

 

 

 

29,852

 

Loss on debt retirements, net

 

396

 

 

 

Merger and Acquisition-related costs

 

3,886

 

 

 

Stock-based compensation expense

 

2,811

 

 

1,874

 

Restructuring-related costs

 

5,932

 

 

35,735

 

Inventory write-downs related to store closings

 

472

 

 

834

 

Litigation settlements

 

14,000

 

 

 

Gain on sale of assets, net

 

(6,558

)

 

(2,260

)

Other

 

397

 

 

740

 

Adjusted EBITDA – continuing operations

$

138,877

 

$

107,392

 

Percent of revenues – continuing operations

 

2.25

%

 

1.78

%

 
RITE AID CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
ADJUSTED NET INCOME (LOSS)
(Dollars in thousands, except per share amounts)
(unaudited)
 
 
Thirteen weeks ended
May 29, 2021
Thirteen weeks ended
May 30, 2020
 
Net loss from continuing operations

$

(13,057

)

$

(72,702

)

Add back – Income tax expense (benefit)

 

780

 

 

(8,018

)

Loss before income taxes – continuing operations

 

(12,277

)

 

(80,720

)

 
Adjustments:
Amortization expense

 

20,460

 

 

24,420

 

LIFO credit

 

(3,993

)

 

(12,066

)

Intangible asset impairment charges

 

 

 

29,852

 

Loss on debt retirements, net

 

396

 

 

 

Merger and Acquisition-related costs

 

3,886

 

 

 

Restructuring-related costs

 

5,932

 

 

35,735

 

Litigation settlements

 

14,000

 

 

 

 
Adjusted income (loss) before income taxes – continuing operations

 

28,404

 

 

(2,779

)

 
Adjusted income tax expense (benefit) (a)

 

7,470

 

 

(768

)

Adjusted net income (loss) from continuing operations

$

20,934

 

$

(2,011

)

 
Adjusted net income (loss) per diluted share – continuing operations:
 
Numerator for adjusted net income (loss) per diluted share:
Adjusted net income (loss) from continuing operations

$

20,934

 

$

(2,011

)

 
 
 
Denominator:
Basic weighted average shares

 

53,852

 

 

53,462

 

Outstanding options and restricted shares, net

 

971

 

 

 

Diluted weighted average shares

 

54,823

 

 

53,462

 

 
Net loss from continuing operations per diluted share – continuing operations $

(0.24

) $

(1.36

)
 
 
Adjusted net income (loss) per diluted share – continuing operations

$

0.38

 

$

(0.04

)

 
(a) The fiscal year 2022 and 2021 annual effective tax rates, calculated using a federal rate plus a net state rate that excluded the impact of state NOL’s, state credits and valuation allowance, was used for the thirteen weeks ended May 29, 2021 and May 30, 2020, respectively.
RITE AID CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
RECONCILIATION OF ADJUSTED EBITDA GROSS PROFIT AND RECONCILIATION OF ADJUSTED EBITDA SELLING,
GENERAL AND ADMINISTRATIVE EXPENSES- RETAIL PHARMACY SEGMENT
(In thousands)
(unaudited)
 
 
 
Thirteen weeks ended
May 29, 2021
Thirteen weeks ended
May 30, 2020
 
 
Reconciliation of adjusted EBITDA gross profit:
Revenues

$

4,351,682

 

$

4,123,271

 

Gross Profit

 

1,169,934

 

 

1,081,536

 

Addback:
LIFO credit

 

(3,993

)

 

(12,066

)

Depreciation and amortization (cost of goods sold portion only)

 

2,097

 

 

2,663

 

Restructuring-related costs – SKU optimization charges

 

 

 

25,763

 

Other

 

300

 

 

531

 

Adjusted EBITDA gross profit – continuing operations

$

1,168,338

 

$

1,098,427

 

Percent of revenues – continuing operations

 

26.85

%

 

26.64

%

 
 
 
Reconciliation of adjusted EBITDA selling, general and administrative expenses:
Revenues

$

4,351,682

 

$

4,123,271

 

Selling, general and administrative expenses

 

1,156,039

 

 

1,108,976

 

Less:
Depreciation and amortization (SG&A portion only)

 

59,768

 

 

60,909

 

Stock-based compensation expense

 

2,771

 

 

1,725

 

Merger and Acquisition-related costs

 

3,886

 

 

 

Restructuring-related costs

 

1,621

 

 

9,946

 

Litigation settlements

 

14,000

 

 

 

Other

 

569

 

 

951

 

Adjusted EBITDA selling, general and administrative expenses – continuing operations

$

1,073,424

 

$

1,035,445

 

Percent of revenues – continuing operations

 

24.67

%

 

25.11

%

 
 
 
Adjusted EBITDA – continuing operations

$

94,914

 

$

62,982

 

 
RITE AID CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
RECONCILIATION OF NET LOSS GUIDANCE TO ADJUSTED EBITDA GUIDANCE
YEAR ENDING FEBRUARY 26, 2022
(In thousands)
(unaudited)
 
 
Guidance Range
Low High
 
Total Revenues

$

25,100,000

 

$

25,500,000

 

 
PBM Revenues

$

7,850,000

 

$

7,950,000

 

 
Gross Capital Expenditures

$

300,000

 

$

300,000

 

 
 
Reconciliation of net loss to adjusted EBITDA:
Net loss

$

(175,000

)

$

(138,000

)

Adjustments:
Interest expense

 

202,000

 

 

202,000

 

Income tax expense

 

 

 

3,000

 

Depreciation and amortization

 

308,000

 

 

308,000

 

LIFO credit

 

(16,000

)

 

(16,000

)

Lease termination and impairment charges

 

60,000

 

 

60,000

 

Loss on debt retirements, net

 

400

 

 

400

 

Merger and Acquisition-related costs

 

10,000

 

 

10,000

 

Restructuring-related costs

 

30,000

 

 

30,000

 

Litigation settlements

 

14,000

 

 

14,000

 

Gain on sale of assets, net

 

(12,400

)

 

(12,400

)

Other

 

19,000

 

 

19,000

 

Adjusted EBITDA

$

440,000

 

$

480,000

 

 
RITE AID CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
RECONCILIATION OF NET LOSS GUIDANCE TO ADJUSTED NET LOSS GUIDANCE
YEAR ENDING FEBRUARY 26, 2022
(In thousands)
(unaudited)
 
 
 
Guidance Range
Low High
 
Net loss

$

(175,000

)

$

(138,000

)

Add back – income tax expense

 

 

 

3,000

 

Loss before income taxes

 

(175,000

)

 

(135,000

)

 
Adjustments:
Amortization expense

 

79,000

 

 

79,000

 

LIFO credit

 

(16,000

)

 

(16,000

)

Loss on debt retirements, net

 

400

 

 

400

 

Merger and Acquisition-related costs

 

10,000

 

 

10,000

 

Restructuring-related costs

 

30,000

 

 

30,000

 

Litigation settlements

 

14,000

 

 

14,000

 

 
Adjusted loss before adjusted income taxes

 

(57,600

)

 

(17,600

)

 
Adjusted income tax benefit

 

(15,000

)

 

(4,500

)

Adjusted net loss

$

(42,600

)

$

(13,100

)

 
 
Diluted adjusted net loss per share

$

(0.79

)

$

(0.24

)

 

INVESTORS:

Trent Kruse

(717) 975-3710

[email protected]

MEDIA:

Christopher Savarese

(717) 975-5718

[email protected]

KEYWORDS: United States North America Pennsylvania

INDUSTRY KEYWORDS: Retail Health Convenience Store Other Retail Specialty General Health Pharmaceutical

MEDIA:

Logo
Logo

Werewolf Therapeutics Announces Its Addition to the Russell 2000® Index

CAMBRIDGE, Mass., June 24, 2021 (GLOBE NEWSWIRE) — Werewolf Therapeutics, Inc., an innovative biopharmaceutical company pioneering the development of conditionally activated therapeutics engineered to stimulate the body’s immune system for the treatment of cancer, today announced that it will be added to the Russell 2000® Index at the conclusion of the Russell US Indexes annual reconstitution on June 28, 2021.

“Werewolf’s inclusion in the Russell 2000® index marks an important milestone that reflects the continued progress we are making toward advancing our lead therapeutic programs, WTX-124 and WTX-330, into the clinic,” said Daniel J. Hicklin, Ph.D., President and Chief Executive Officer of Werewolf Therapeutics. “We are pleased to join the Russell Index and look forward to sharing our story with a broader audience of investors.”

The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity market. The index is a subset of the Russell 3000® Index and represents approximately 10 percent of the total market capitalization of that index. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell 2000® Index and the Russell indexes reconstitution, visit the FTSE Russell website.

About Werewolf Therapeutics, Inc.

Werewolf Therapeutics, Inc. is an innovative biopharmaceutical company pioneering the development of therapeutics engineered to stimulate the body’s immune system for the treatment of cancer. We are leveraging our proprietary PREDATOR™ platform to design conditionally activated molecules that stimulate both adaptive and innate immunity with the goal of addressing the limitations of conventional proinflammatory immune therapies. Our INDUKINE™ molecules are intended to remain inactive in peripheral tissue yet activate selectively in the tumor microenvironment. Our most advanced product candidates, WTX-124 and WTX-330, are systemically delivered, conditionally activated Interleukin-2 (IL-2) and Interleukin-12 (IL-12) INDUKINE molecules, respectively, for the treatment of solid tumors. We are continuing preclinical studies for both WTX-124 and WTX-330 and expect to advance each candidate in multiple tumor types as a single agent and in combination with an immune checkpoint inhibitor.

To learn more visit www.werewolftx.com.

Investor Contact:

Alan Lada
Solebury Trout
617.221.8006
[email protected]   

Media Contact:

Amanda Sellers
VERGE Scientific Communications
301.332.5574
[email protected]    

Company Contact:

Ellen Lubman
Chief Business Officer
Werewolf Therapeutics
[email protected] 



Canada Goose Commits to Going Fur Free

Canada Goose Commits to Going Fur Free

Transformative Decision Driven by Purpose-Based Commitment

TORONTO–(BUSINESS WIRE)–
Today, Canada Goose announced that it will end the use of all fur in its products. This announcement is driven by its focus on its purpose-based platform, HUMANATURE, relentless innovation, and expanding lifestyle relevance. Through a phased approach, Canada Goose will end the purchase of fur by the end of 2021 and cease manufacturing with fur no later than the end of 2022.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210624005310/en/

Women’s Standard Expedition Parka | Men’s Standard Expedition Parka (Photo: Business Wire)

Women’s Standard Expedition Parka | Men’s Standard Expedition Parka (Photo: Business Wire)

“Our focus has always been on making products that deliver exceptional quality, protection from the elements, and perform the way consumers need them to; this decision transforms how we will continue to do just that,” said Dani Reiss, President & CEO, Canada Goose. “We continue to expand – across geographies and climates – launching new categories and products designed with intention, purpose and functionality. At the same time, we are accelerating the sustainable evolution of our designs.”

Earlier this year, Canada Goose launched its most sustainable parka to date, the Standard Expedition Parka, followed by the introduction of a new category of lightweight down jackets, the Cypress and Crofton. The Standard Parka generates 30 per cent less carbon and requires 65 per cent less water during production compared to the in-line Expedition Parka. The Cypress and Crofton jackets are both made with recycled nylon, exemplifying the brand’s purpose to keep the planet cold and the people on it warm. As well, Canada Goose products are warranted for their lifetime, another example of the brand’s commitment to reducing its impact on the environment.

“This is a significant step forward toward building a more humane and sustainable world. We applaud Canada Goose’s commitment to end the use of all fur by late 2022 and the leadership position they are taking in their industry,” said Barbara Cartwright, CEO of Humane Canada.

In 2019, Canada Goose announced its commitment to achieve net-zero carbon emissions and reduce emissions by more than 80 per cent from current levels by 2025. At the same time, Canada Goose also joined the bluesign® raw materials standard as an official SYSTEM Partner and remains on track to be Responsible Down Standard certified this year. The brand also plans to transition 90 per cent of its materials to Preferred Fibres and Materials, sustainable alternatives to conventional materials, by 2025 and plans to integrate sustainable solutions into 100 per cent of its packaging by 2025.

For more information on HUMANATURE, Canada Goose’s purpose-driven platform that unites its sustainability and values-based initiatives, visit: https://www.canadagoose.com/en/beyond/humanature/

About Canada Goose

Founded in 1957 in a small warehouse in Toronto, Canada, Canada Goose (NYSE:GOOS, TSX:GOOS) is a lifestyle brand and a leading manufacturer of performance luxury apparel. Every collection is informed by the rugged demands of the Arctic, ensuring a legacy of functionality is embedded in every product from parkas and rainwear to apparel and accessories. Canada Goose is inspired by relentless innovation and uncompromised craftsmanship, recognized as a leader for its Made in Canada commitment. In 2020, Canada Goose announced HUMANATURE, its purpose platform that unites its sustainability and values-based initiatives, reinforcing its commitment to keep the planet cold and the people on it warm. Canada Goose also owns Baffin, a Canadian designer and manufacturer of performance outdoor and industrial footwear. Visit www.canadagoose.com for more information.

About Humane Canada

We are the federation of humane societies and SPCAs, driving positive, progressive change to end animal cruelty, improve animal protection and promote the humane treatment of all animals. As the convener and representative of the largest animal welfare community in Canada, we advance the welfare of animals with a strong national voice, promoting animal welfare interests and concerns to government, policymakers, industry, and the public.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements, including statements relating to the execution of our proposed strategy, our operating performance and prospects, and the general impact of the COVID-19 pandemic on the business. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “believe,” “could,” “continue,” “expect,” “estimate,” “forecast,” “may,” “potential,” “project,” “plan,” “would,” “will,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Our business is subject to substantial risks and uncertainties. Applicable risks and uncertainties include, among others, the impact of the ongoing COVID-19 pandemic, and are discussed under the headings “Cautionary Note regarding Forward-Looking Statements” and “Factors Affecting our Performance” in our MD&A as well as in our “Risk Factors” in our Annual Report on Form 20-F for the year ended March 28, 2021. You are also encouraged to read our filings with the SEC, available at www.sec.gov, and our filings with Canadian securities regulatory authorities available at www.sedar.com for a discussion of these and other risks and uncertainties. Investors, potential investors, and others should give careful consideration to these risks and uncertainties. We caution investors not to rely on the forward-looking statements contained in this press release when making an investment decision in our securities. The forward-looking statements in this press release speak only as of the date of this release, and we undertake no obligation to update or revise any of these statements.

Canada Goose

[email protected]

Investor Relations

[email protected]

Humane Canada

[email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Retail Online Retail Department Stores Fashion

MEDIA:

Photo
Photo
Women’s Standard Expedition Parka | Men’s Standard Expedition Parka (Photo: Business Wire)